Do I have to use your book keeping services?
Not at all. You may, or you may choose to do your own book keeping. We will gladly walk your existing book keeper through the process.
Do you give free introductory meetings?
Not for cash damming purposes. Please see our price list for the cost of our meetings. We strongly recommend that you use our calculator to determine if it is worth your while to come in for an evaluation meeting. The cost of the first meeting will be applied to the set up cost if you decide to proceed.
Under what circumstances do you give free introductory meetings?
For investment and insurance offerings in which we typically are paid a commission upon the sale of a product. Cash damming does NOT involve the sale of any product.
Isn’t tax avoidance illegal?
The courts and the government have adopted and continually acknowledge the Duke of Westminster principle that a taxpayer has the right to arrange his/her affairs in order to minimize taxes owed. Tax evasion is illegal and we do not condone it. Tax avoidance is your right—we would say perhaps even your responsibility.
What if the government changes the rules?
Anything is possible. Individuals have been doing this for decades and the government has recently given an opinion letter confirming it’s legitimacy. It is our belief that should the government amend laws regarding interest deductibility that at the very least they would grandfather that portion which was already made deductible.
What are the risks?
There is always the risk that CRA could change it’s position or that the federal government might amend legislation. It is our opinion that the former is extremely unlikely given their written comments in support of cash damming. Furthermore we believe that in the unlikely event of the latter it is most likely that past activities would be grandfathered. This makes it all the more important to act with a sense of urgency.
Do I have to increase my debt load?
No. In most cases it remains constant or gets paid in the same manner as always. Cash damming restructures your debt so that you are rapidly paying down your personal debt while increasing business debt, at the same rate rendering it tax deductible.